Full form of MNC company|| history, applications, pros and cons

Full form of MNC company


Full form of MNC company: Multinational Corporation.

Above all, MNC is the short form of Multinational company. As the full form suggests, an MNC is spread in multi-nations. It refers to a corporation cum company which is controlled by only one nation. But is spread in multi-different nations. The country that has its headquarters are known to control it. But its services and facilities are spread among different nations. However, there is a legal disclosure regarding the company being an MNC. If an MNC is known to extract more than twenty-five per cent. Of its annual revenue from foreign services and facilities. Then it is declared as a Multinational Corporation by law. Moreover, an MNC is nothing without its foreign services and revenue. As it can't remain dependent on its home country only.


According to some resources, the MNCs have visited India in the early 17th century. However, the British East India Company was the earliest of all. The purpose of trade and business has expanded the MNC's overtime. Making the nationwide business as a kind of trend. In the present time, a lot of MNCs can be seen. The most popular of them are messing around the big brands. Like the Coca Cola ( a branded coke company), Microsoft & Apple (the sensational techno giants). Moreover, the market is flooded with such MNCs. However, such companies are making a ton of profits in the worldwide market. Moreover, companies like Samsung, Infosys and a lot of others are leading the world market of technology and gadgets. However, knowing the full form of MNC company is worth it.


FEATURES OF THE MULTINATIONAL CORPORATION:


The MNCs are known to have a handful of great features. Those companies are featured for their great business models. However, some of them are popular all over the globe. Some of the important features of an MNC are listed below:

1. MNCs has a nationwide strength. Their business is not only spread in the nation. But is also spread all across the globe. Being the parent company in its home country. A multinational corporation is powerful in itself. It acquires strength as it has a big part in the field of foreign direct investment (FDI). It has made most of the MNCs financially independent. And helped the nation to have an annual increase in its gross domestic product (GDP).


2. Any corporation works on the basis of the decisions made by them. MNCs are not limited to any one field only. They are spread worldwide, and none of the fields is left. It has its reach in almost every field. However, those MNCs have their individual decision making branches. That helps it to remain updated with the decisions and the actions to take in the upcoming future. However, before the approval of any decision. It must be passed by the main decision-making centre.


THE OTHER TWO MEMBERS OF THE LIST:


3. MNCs are known to seek exposure in the world market. Seeking methods to expand its reach throughout the globe. However, these corporations, are known to find their competition and take decisions to beat them. In addition, its try to beat their product layout, their professional fixed-point productions and sales. Aiming to gain the maximum possible profits it can. Some MNCs have become a worldwide trusted brand. That is known to attract the attention of millions and trillions of consumers.

4. MNCs are known to give worldwide competition. Competing with global marketers and corporation. Hasn't left the MNCs with a single reason. Not to become the best in all aspects. Due to the continuous increase in world competition. The corporations are trying their best to provide the best services possible. This competition is simply flooding the international market. With the most quality products and stuff. And none, but the common people are benefitted with it. In order to beat and even stay in this competition. The MNCs are trying it best. To gain the best technical and economic strength. Furthermore, working hard to give the best. However, knowing the full form of MNC company is worth it.




PROS OF AN MNC:


1. Modernises the world: MNCs are known to modernise the world. It is all the work of those corporations. To build world-class buildings and provide facilities to attract the world. All of them are in the same world competition. And that is to become better and better. Moreover, to beat the competition. They keep on building the stuff, to prove their greatness. But it consequently modernises the place. It makes the place more and more attractive, more and more approachable. Their huge investments on infrastructure, training centres, education and skillset. May not beat the competition, but surely modernises the world.

2. Increases international exposure: Being multinational, those corporations have their reach worldwide. They have healthy contacts with the world. Making a healthy relation with various different nations. That helps them to import and export products at the same time. Making connections and contacts with the world market all at once.

3. Promotes employment: In order to survive in such a big world competition. It is required to extend the work culture. It is required to expand the employee count to the maximum. The more the number of employees, the more work will be done. However, it provides employment to the local people. Living in nearby colonies and states. Speaking the local language and living the local style.

CONS OF AN MNC:


1. Fades local employment: Having an attempt to become a world leader. MNCs are not interested in making local people employed. They are not satisfied with the skill and talent of their own people. And 92 times out of 100, outsources the task. It shows their mindset and mentality. This simply, makes their local people fed up. Not giving employment and outsourcing the task.

2. Develops corruption: MNCs are known to develop political corruption. The way they promise to provide raw materials and stuff. Seems real and trusted. But it is far away from reality. The way the money is taken by the politicians and authorities. Simply, makes the system untrusted and blind. Every single step of this process includes corruption and duplicity.


Share:

Post a comment

Copyright @2020 Partread | Designed by OddThemes | Distributed by Blogger Themes